Hyundai Motor India IPO 2024: An Insightful Overview for Investors
Hyundai Motor India, the country’s second-largest automaker, is all set to launch its Initial Public Offering (IPO) around October 14, 2024. This IPO marks a significant milestone for the company, which has been instrumental in shaping India’s automobile landscape since its inception in 1996. The I.P.O. aims to raise approximately ₹25,000 crore through an Offer for Sale (OFS), where Hyundai Motor Co., the parent company, will sell up to 17.5% of its stake in its Indian subsidiary. This is set to be one of the largest I.P.Os in India, after the Life Insurance Corporation (LIC) I.P.O. of 2022.
The proceeds from the I.P.O. will not be used to issue new shares but will be directed towards Hyundai’s parent company, Hyundai Motor Co., as it dilutes its stake in the Indian arm. The I.P.O. is expected to boost Hyundai’s visibility in India and unlock value for the company’s operations in the rapidly growing market, especially as it plans to expand its electric vehicle (EV) lineup in the country. With the company already positioned strongly in India’s growing automotive market, the listing will also allow investors to gain exposure to one of the most successful auto brands in the country.
IPO Details
| Detail | Information |
|---|---|
| Issue Size | ₹27,870.16 Crores |
| Price Band | ₹1,865 – ₹1,960 per share |
| Lot Size | 7 shares |
| Minimum Investment | ₹13,720 |
| Maximum Investment | ₹1,92,080 |
| Subscription Ratio | 2.37 times overall |
Reservation Details
| Investor Category | Reservation Percentage |
|---|---|
| Qualified Institutional Buyers (QIB) | 50% |
| Retail Individual Investors (RIIs) | 35% |
| Non-Institutional Investors (NIIs) | 15% |
| Employee Reservation | Up to 7,78,400 shares at a discount of ₹186 each |
Key Dates
| Event | Date |
|---|---|
| IPO Opening Date | October 15, 2024 |
| IPO Closing Date | October 17, 2024 |
| IPO Allotment Date | October 18, 2024 |
| Initiation of Refunds | October 21, 2024 |
| Listing Date | October 22, 2024 |
Financial Overview
| Metric | Value |
|---|---|
| Total Bids Received | 23.63 Crores shares |
| Shares Offered | 9.98 Crores shares |
| QIB Subscription Rate | 6.97 times |
| Retail Subscription Rate | 0.50 times |
| NII Subscription Rate | 0.60 times |
Grey Market Premium (GMP)
| Date | GMP (in ₹) | Comments |
|---|---|---|
| October 17, 2024 | ₹0 | No premium; expected listing price at ₹1,960 |
| Recent Trend | Discounted listing expected at approximately ₹1,930 |
IPO Prospectus
- IPO RHP: Click Here
- IPO DRHP: Click Here
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